A NEW SURVEY shows that Dublin property sales were recovering in the first half of this year – but it raises concerns about housing stock in the capital.
There was a total increase of 32% in the volume of property sales in Dublin in the first six months of this year.
The percentage of sales rose from 3,966 to 5,240, with €1.83bn being spent on property in the capital over this period.
This is an increase of 45% on the €1.26bn which was spent in the first six months of 2013.
Property market
MyHome.ie took a look at the Dublin property market and found that the number and value of transactions rose in all but two areas of Dublin in the first six months of 2014.
According to the study, which is based on an analysis of the Property Price Register, there was an increase of 76% on the 197 sales in Dublin 6 alone for the same period last year.
The study also found that Dublin 13 recorded the biggest percentage increase in the first half of the year, rising by 189%. This, said MyHome.ie, was helped by the fact that sales in Clongriffin jumped dramatically from five in the first half of 2013 to 73 in the first six months of this year.
23 regions
Of 23 postcode and County regions in Dublin, only Dublin 20 (-14%) and Dublin 17 (-13%) failed to record an increase.
The Managing Director of Myhome.ie, Angela Keegan said that if the present trend continued we would see around 14,000 transactions in Dublin this year, up from the 11,095 recorded last year.
But she added:
We are concerned about the lack of supply and the effect this is having on sales and affordability.
Castleknock was the most popular area to buy a home during 2013, with 304 sales. but its figures for the first six months of the year fell by 11%, “underlining the stock problems that are affecting many parts of Dublin” Keegan said
In total, €454m was spent on property in Dublin County.
The postcode area which saw the biggest spend was Dublin 18 (€178m). The smallest spend was seen in Dublin 10 – €5m.
Terenure in Dublin 6W was the most popular locality to buy a home in the first half of the year after seeing sales increases from 48 in the first half of last year to 178 in the same period of this year.
This 271% increase was helped by 112 individual sales at Bushy Park House.
Amongst the notable risers in percentage terms were Clongriffin (1360%), Ballycullen (400%), and Stepaside (283%), while notable fallers were Ballymun (-85%), the Navan Road (-80%), and Kimmage.
Aside from Terenure, the top 20 most popular areas to buy homes in the county in the first six months of 2014 were:
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